$ 1,750,000
29222 GRAND RIVER Avenue Farmington Hills, MI 48336 5614
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$ 1,750,000
Est. payment /mo
Active
29222 GRAND RIVER Avenue Farmington Hills, MI 48336 5614
9,388 SqFt
UPDATED:
09/09/2024 04:06 AM
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 9,388 sqft
Price per Sqft $186
Subdivision Mi
MLS Listing ID 60297043
Annual Tax Amount $15,500
Lot Size 0.310 Acres
Acres 0.31
Lot Dimensions 164 X 105 X 100 X 116
Property Description
Welcome to an Investor's Dream Building! This is your opportunity to own a mixed use 9-Unit Apartment Building with an additional 5,400SF Commercial Space on the 1st floor. The 9 apartments on the 2nd floor are all 1-bedroom, 1-bathroom units with kitchens, and small living rooms. The apartments are all heated via a steam-based boiler system with one of two boilers recently replaced in 2023. Hot water for the apartments is serviced by two brand new hot water tanks replaced in 2023. The 1st floor commercial space has been fully gutted with newly installed steel studs and is ready for the next owner or a new market tenant to complete the build out. 1st floor Commercial space is serviced by a furnace and has central air conditioning. Architectural plans and MEP drawings available for the next owner or tenant of the 1st floor commercial space. Garage Door in the rear gives direct access to the commercial space, perfect for a service-based tenant needing to load and unload trucks and equipment. Secondary garage space, accessed from the exterior-only, provides the owner with private, locked storage. Next door to the Farmington Hills Fire Department, and close proximity to many major roads and highways including Middlebelt and M-5. 2/3 of flat roof was replaced in February 2024! Sellers intended to occupy 1st floor, but are relocating business headquarters further south/west. LL pays water & sewer, trash, and natural gas. Most tenant's pay electric (separately metered). Bring your ideas to this Value-Add Investment Opportunity, and achieve some serious cash flow potential!
Location
State MI
County Oakland
Area Farmington Hills (63231)
Zoning Multi-Family,Commercial
Interior
Heating Steam
Exterior
Waterfront No
Building
Foundation Slab
Water Public Water
Structure Type Block,Stone
Others
Ownership Private
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Max Broock, REALTORS®-Birmingham